This is the oposite of a hammer on, and tells us to finger the fifth fret on string No.1 (thinnest string), play the note, and immediately release (pull off) your fretting finger on the fifth fret, while at the same time, pressing another finger onto the 3rd fret, again, without picking the string again with the right hand.

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Pull Off

Where multiple hammer ons and pull offs are wanted, the tab would look like this....Note The string would only be picked once with the right hand on the first '3' Your first finger should stay on the third fret, while performing the hammer ons and pull offs on the fifth fret with your third finger